I don't know how many people use this little trick, but I did a search on smart objects and didn't find any threads. That being said, I recently tried using smart objects to see if you could just link an image to a layer in Photoshop. Sure enough, you can!
Lots of time saved not having to manually open files and copying and pasting them into one msssive one. Now, its setting up layers, making smart objects, placing content into each one.. o wait. Still, I'm saving quite a bit of time on my current project which has 17 bits to it. Some individual things I had to rebake, and it was great just being able to right click and replace the image.
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could i have the content of the layer comefrom seprate file, and have a layer mask put on it, from my main psd
connect a network harddrive and store the images there.
1) You could check it out (it being the texture bake you plan to put into a layer)
2) Convert a layer to a smart object
3) Place the texture there (right click -> replace..)
4) When the PSD is saved, you will have a local copy of the texture file that you checked out which you could delete.
5) If you made individual changes to the smart object layer then save those out and check 'em back in.